BEFORE YOU DECIDE TO SELL
You will have many questions that need to be answered! Some of the common ones are:
What will be the tax consequences of selling my farm?
- Every taxpayer and every transaction is different so this is a very important question. Thus, we urge the seller to engage the services of a qualified C.P.A. to provide tax information. WARNING: not all tax preparers are familiar with the real estate provisions of the Internal Therefore, for our clients, we offer up to two hours of tax consultation, Revenue Code.FREE OF CHARGE with our C.P.A. firm to assist you or to confer with your tax preparer providing you with the necessary information.
- Reducing the Tax Bite: With good advice, we can frequently structure a sale to reduce a tax bite. With tax advisors, we can explore such things as:
- allocation between taxable and non taxable assets.
- Use of interest dividing trusts and/or charitable annuities.
- Section 1031 Tax Deferred Exchanges (See separate section on this topic.)
How does the sale process work?
- We are aware that this may be a new area for you. We are dedicated to explaining the process and alternatives to you. There are no foolish questions. We are here to listen!
If we sell, then what? ie. Where do we invest the proceeds safely, prudently?
- We aren’t experts in this area, but we can help you find people who are!
Here at 1 Stop Realty, Inc., we pride ourselves on being your 1 Stop Source for all your real estate needs, regardless of the type of real estate involved. Whether it be farmland, a home, or a building site, our knowledgeable staff will be able to help.
Our relentless dedication to knowing the specific differences in each type of transaction is what sets us apart from the rest.
In our industry, focusing on farmland is a rarity because of its inherent complexities. That is why holding membership in the REALTOR® Land Institute helps signify our distinction. With this commitment, we make sure to educate ourselves on all aspects of how to most effectively optimize your investment in land. Farmland is unique, they are not making more of it, and nothing says this better than RLI’s motto; “Under all is the land.”
Land transactions require expert knowledge and exceptional brokerage skills. When you choose a real estate firm such as ours, that derives over 95% of it’s business from farmland sales, auctions, 1031 exchanges, and management, these are some of the benefits you should expect:
- Someone who has the background and will take the time to understand your unique situation and LISTEN to your needs to develop a real world solution. We will always put the client’s needs and best interests before any other considerations.
- Someone that can provide the best price analysis, utilizing not only our experience, but genuine up to date market data. With nearly 40 years as a company, and over 80 years of combined experience, you will know for certain that the price analysis we put together is well researched and not just some number plucked from the air.
- Someone with specialized land knowledge, whether it is land use, soils, drainage, or any one of the numerous other technical factors that require recognition and proper action to achieve your goal.
- Someone that will explore with you the legal and tax ramifications of your proposed transaction, and assist you in utilizing professional legal and tax advisors. We will make sure you are informed of all options available to you, such as 1031 tax deferred exchanges, and help to outline a course of action to help you achieve your financial goal.
- Someone with creative marketing skills that will give your property maximum market exposure with a wide spread referral and networking system. We tailor fit each marketing strategy to each person’s property. Who better to reach the farmers and investors you want to buy your land than a team of professionals who have those connections.
- Someone who will represent you exclusively. Always make sure your agent practices “single agency”, keeping your best interests the important ones.
- Someone with superior negotiating skills, developed from constant training and years of first hand experience.
- Someone whose competence and conduct follows the REALTORS® Code of Ethics.
- Someone who will communicate with you throughout the various steps in the transaction with progress reports and updates. We will be there with you every step of the way, and will keep you informed of what is going on!
As a customer, you deserve the best professional representation the market has to offer, regardless of the type of property involved, or the method for which that property is being sold. Very few real estate firms can handle the rigorous training and commitment involved to be an accredited farmland brokerage. That’s why we are proud and confident that we are “The Experienced Farmland Professionals!”